[Economic Report of the President (2004)]
[Administration of George W. Bush]
[Online through the Government Printing Office, www.gpo.gov]


MONEY STOCK, CREDIT, AND FINANCE
 
Table B-69.--Money stock and debt measures, 1959-2003
[Averages of daily figures, except debt end-of-period basis; billions of dollars, seasonally adjusted]
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M1                M2                 M3              Debt\1\                 Percent change
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Sum of currency,   M1 plus retail     M2 plus large                        From year or 6 months     From
demand deposits,   MMMF balances,     time deposits,                            earlier\2\         previous
Year  and  month                   travelers     savings deposits      RPs, Euro-     Debt of  domestic ------------------------ period\3\
checks, and       (including        dollars, and       nonfinancial                           ----------
other checkable     MMDAs), and     institution-only       sectors         M1      M2      M3
deposits (OCDs)     small time       MMMF balances                                                  Debt
-------------------------------------------------------------------deposits-----------------------------------------------------------------------------
December:
1959.....................................             140.0             297.8             299.7              689.5   ......  ......  ......        7.8

1960.....................................             140.7             312.4             315.2              724.3      0.5     4.9     5.2        5.0
1961.....................................             145.2             335.5             340.8              767.8      3.2     7.4     8.1        6.0
1962.....................................             147.8             362.7             371.3              820.6      1.8     8.1     8.9        6.9
1963.....................................             153.3             393.2             405.9              876.1      3.7     8.4     9.3        6.8
1964.....................................             160.3             424.7             442.4              940.0      4.6     8.0     9.0        7.3
1965.....................................             167.8             459.2             482.1            1,007.2      4.7     8.1     9.0        7.1
1966.....................................             172.0             480.2             505.4            1,074.7      2.5     4.6     4.8        6.7
1967.....................................             183.3             524.8             557.9            1,152.7      6.6     9.3    10.4        7.3
1968.....................................             197.4             566.8             607.2            1,242.8      7.7     8.0     8.8        7.9
1969.....................................             203.9             587.9             615.9            1,332.3      3.3     3.7     1.4        7.2

1970.....................................             214.3             626.4             677.0            1,422.5      5.1     6.5     9.9        6.9
1971.....................................             228.2             710.1             775.9            1,557.7      6.5    13.4    14.6        9.5
1972.....................................             249.1             802.1             885.8            1,713.7      9.2    13.0    14.2       10.0
1973.....................................             262.7             855.3             984.9            1,898.2      5.5     6.6    11.2       10.7
1974.....................................             274.0             901.9           1,069.7            2,073.1      4.3     5.4     8.6        9.2
1975.....................................             286.8           1,016.0           1,169.9            2,264.7      4.7    12.7     9.4        9.3
1976.....................................             305.9           1,151.7           1,309.7            2,508.3      6.7    13.4    11.9       10.8
1977.....................................             330.5           1,269.9           1,470.1            2,829.6      8.0    10.3    12.2       12.8
1978.....................................             356.9           1,365.6           1,644.2            3,214.5      8.0     7.5    11.8       13.8
1979.....................................             381.4           1,473.3           1,808.3            3,606.5      6.9     7.9    10.0       12.2

1980.....................................             408.1           1,599.4           1,995.1            3,957.9      7.0     8.6    10.3        9.5
1981.....................................             436.2           1,754.9           2,254.0            4,366.4      6.9     9.7    13.0       10.4
1982.....................................             474.3           1,909.8           2,460.2            4,788.3      8.7     8.8     9.1       10.1
1983.....................................             520.8           2,125.9           2,697.0            5,364.8      9.8    11.3     9.6       12.0
1984.....................................             551.2           2,309.6           2,990.5            6,151.2      5.8     8.6    10.9       14.7
1985.....................................             619.1           2,494.9           3,207.6            7,132.3     12.3     8.0     7.3       15.7
1986.....................................             724.0           2,731.6           3,498.7            7,975.1     16.9     9.5     9.1       11.9
1987.....................................             749.4           2,830.6           3,685.9            8,677.6      3.5     3.6     5.4        9.0
1988.....................................             786.0           2,993.8           3,928.3            9,461.7      4.9     5.8     6.6        9.1
1989.....................................             792.1           3,157.4           4,076.0           10,166.2       .8     5.5     3.8        7.3

1990.....................................             824.1           3,277.2           4,152.1           10,850.4      4.0     3.8     1.9        6.5
1991.....................................             896.3           3,376.7           4,204.8           11,313.1      8.8     3.0     1.3        4.3
1992.....................................           1,024.3           3,430.8           4,215.8           11,831.7     14.3     1.6      .3        4.6
1993.....................................           1,129.3           3,483.3           4,277.6           12,413.5     10.3     1.5     1.5        4.8
1994.....................................           1,149.9           3,496.2           4,360.0           12,993.3      1.8      .4     1.9        4.6
1995.....................................           1,126.7           3,640.0           4,625.2           13,682.8     -2.0     4.1     6.1        5.3
1996.....................................           1,078.4           3,815.3           4,972.0           14,412.5     -4.3     4.8     7.5        5.3
1997.....................................           1,071.4           4,031.5           5,446.5           15,199.1      -.6     5.7     9.5        5.5
1998.....................................           1,094.8           4,384.4           6,036.6           16,241.1      2.2     8.8    10.8        6.9
1999 ....................................           1,121.5           4,650.2           6,535.4           17,302.3      2.4     6.1     8.3        6.3

2000.....................................           1,084.7           4,932.1           7,100.5           18,165.7     -3.3     6.1     8.6        4.9
2001 ....................................           1,172.9           5,445.1           8,006.2           19,302.2      8.1    10.4    12.8        6.3
2002 ....................................           1,210.4           5,792.9           8,525.9           20,677.1      3.2     6.4     6.5        7.1
2003 p...................................           1,287.1           6,044.6           8,806.9   .................     6.3     4.3     3.3  .........

2002: Jan..................................           1,179.0           5,469.1           8,017.9   .................     7.2     9.0     9.1  .........
Feb..................................           1,185.2           5,507.4           8,069.6   .................     6.3     9.1    10.2  .........
Mar..................................           1,187.1           5,508.3           8,082.8           19,571.9     -2.3     4.9     6.3        5.6
Apr..................................           1,172.6           5,494.8           8,085.0   .................     1.5     4.9     5.4  .........
May..................................           1,183.3           5,557.5           8,152.4   .................     3.1     5.7     5.2  .........
June.................................           1,188.9           5,587.7           8,180.9           19,939.4      2.7     5.2     4.4        7.5
July.................................           1,195.7           5,635.5           8,227.1   .................     2.8     6.1     5.2  .........
Aug..................................           1,184.5           5,673.4           8,293.7   .................     -.1     6.0     5.6  .........
Sept.................................           1,191.3           5,699.1           8,335.3           20,261.4       .7     6.9     6.2        6.5
Oct..................................           1,202.6           5,737.0           8,346.9   .................     5.1     8.8     6.5  .........
Nov..................................           1,202.2           5,777.3           8,470.0   .................     3.2     7.9     7.8  .........
Dec..................................           1,210.4           5,792.9           8,525.9           20,677.1      3.6     7.3     8.4        8.2

2003: Jan..................................           1,212.8           5,821.8           8,526.0   .................     2.9     6.6     7.3  .........
Feb..................................           1,233.4           5,875.0           8,572.9   .................     8.3     7.1     6.7  .........
Mar..................................           1,236.7           5,887.1           8,599.4           21,011.9      7.6     6.6     6.3        6.5
Apr..................................           1,236.9           5,910.0           8,617.6   .................     5.7     6.0     6.5  .........
May..................................           1,257.8           5,998.6           8,711.7   .................     9.2     7.7     5.7  .........
June.................................           1,271.9           6,047.5           8,780.2           21,595.3     10.2     8.8     6.0       11.1
July.................................           1,277.8           6,099.5           8,916.9   .................    10.7     9.5     9.2  .........
Aug..................................           1,285.8           6,143.6           8,956.5   .................     8.5     9.1     8.9  .........
Sept.................................           1,288.1           6,122.4           8,953.7           21,997.0      8.3     8.0     8.2        7.4
Oct..................................           1,286.9           6,092.1           8,896.0   .................     8.1     6.2     6.5  .........
Nov .................................           1,281.8           6,071.5           8,856.1   .................     3.8     2.4     3.3  .........
Dec p................................           1,287.1           6,044.6           8,806.9   .................     2.4     -.1      .6  .........
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\1\ Consists of outstanding credit market debt of the U.S. Government, State and local governments, and private nonfinancial sectors.
\2\ Annual changes are from December to December; monthly changes are from 6 months earlier at a simple annual rate.
\3\ Annual changes are from fourth quarter to fourth quarter. Quarterly changes are from previous quarter at annual rate.
Note.--See Table B-70, for components.

Source: Board of Governors of the Federal Reserve System.